Prospect Capital Purchases $38 Million of First Lien Senior Secured Floating Rate Notes Issued by Memorial MRI & Diagnostic, ...
March 17 2017 - 7:00AM
Prospect Capital Corporation (NASDAQ:PSEC) (“Prospect”) announced
today that Prospect recently purchased $38 million of first lien
senior secured floating rate notes issued by Memorial MRI &
Diagnostic, L.L.C. (“MMRI”), a portfolio company of Baymark
Partners (“Baymark”). Based in Dallas, Texas, Baymark is a private
equity firm focused on middle-market companies in the business and
healthcare services industries.
Founded in 2001, MMRI is a provider of
multi-modality diagnostic imaging and pain management services with
six facilities operating in Houston. MMRI provides patients with a
comprehensive healthcare solution, encompassing facilities and
equipment, highly trained technicians, and streamlined payment
processing. MMRI is certified by the American College of
Radiology.
“The Prospect team demonstrated a strong
knowledge of healthcare services, worked within our demanding
timetable, and delivered a tailored financing solution for MMRI,”
said Anthony Ludlow, Managing Director of Baymark. “We greatly
enjoyed our experience working with Prospect and look forward to
our next transaction with Prospect.”
“Prospect is pleased to support the growth of
MMRI in the Houston and overall Texas markets,” said David Moszer,
Managing Director of Prospect Capital Management L.P. “MMRI’s
services in the imaging and diagnostic market provide high quality
medical services in a low-cost, non-hospital setting.”
ABOUT PROSPECT CAPITAL
CORPORATION
Prospect Capital Corporation
(www.prospectstreet.com) is a business development company that
focuses on lending to and investing in private businesses.
Prospect’s investment objective is to generate both current income
and long-term capital appreciation through debt and equity
investments.
Prospect has elected to be treated as a business
development company under the Investment Company Act of 1940 (“1940
Act”). Prospect is required to comply with a series of regulatory
requirements under the 1940 Act as well as applicable NASDAQ,
federal and state rules and regulations. Prospect has elected to be
treated as a regulated investment company under the Internal
Revenue Code of 1986. Failure to comply with any of the laws and
regulations that apply to Prospect could have an adverse effect on
Prospect and its shareholders.
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, whose safe harbor for forward-looking
statements does not apply to business development companies. Any
such statements, other than statements of historical fact, are
highly likely to be affected by other unknowable future events and
conditions, including elements of the future that are or are not
under Prospect’s control, and that Prospect may or may not have
considered; accordingly, such statements cannot be guarantees or
assurances of any aspect of future performance. Actual developments
and results are highly likely to vary materially from any
forward-looking statements. Such statements speak only as of
the time when made, and Prospect undertakes no obligation to update
any such statement now or in the future.
For further information, contact:
Grier Eliasek, President and Chief Operating Officer
grier@prospectstreet.com
Telephone (212) 448-0702
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